Belarus,Iran study prospects of opening a bank in Belarus with Iranian capital

Minsk, Feb 10 NNN-BELTA) Last week, a delegation of representatives of the leading Belarusian banks headed by Piotr Prokopovich, chairman of the board of the National Bank of Belarus, made an official visit to Tehran to discuss ways of expanding cooperation between Belarus and Iran, BelTA learnt in the information department of the National Bank.

Iran is willing to thoroughly consider the issue of opening a representative office of one of its banks in Belarus and set up joint companies which would be subsidiaries of financial institutions.

Moreover, Iran is ready to open credit facilities through its export development bank to finance joint projects with Belarus. The bank said it is also willing to provide financial assistance to Iranian companies in purchasing Belarusian goods and in addressing other issues.

Iranian governmental agencies confirmed their desire to provide the necessary assistance to Belarus in case Belarus decides to join the Asian Clearing Union what would significantly simplify settlement of transactions between Belarusian and Iranian cooperating entities.

The sides reached an agreement on mutual support in cooperation with other international financial organizations, on the possibility of using the potential of the Iranian mint, on information exchange in the banking sphere including legal issues and activity of financial institutions of the two states and on the exchange of delegations which would promote cooperation in different areas.

The sides also pointed to the absence of problems in settling accounts between Belarusian and Iranian banks, with exception for some currencies, and agreed to address any cooperation problems that might occur in a speedy and responsible manner.

During meetings between representatives of the Belarusian delegation and governor of the Central Bank of the Islamic Republic of Iran Ebrahim Sheibani, top officials at the economy and finance ministry, foreign ministry and top management of the leading Iranian banks the sides did not only express eagerness to further consolidate mutually-beneficial ties between the banking systems but also voiced intention to expand trade and economic contacts between the two countries to grow mutual turnover.

The Belarusian delegation brought a number of documents to Iran for consideration like an agreement on cooperation between the National Bank of Belarus and the Central Bank of Iran, an agreement on cooperation in personnel training and a memorandum of understanding in banking supervision between the central banks of the two states.

Governor of the Central Bank of the Islamic Republic of Iran Ebrahim Sheibani accepted an invitation voiced by chairman of the board of the National Bank of Belarus Piotr Prokopovich to visit Belarus in 2007 at a time which would be most convenient for him.